How much you have to make to be considered upper middle class in Thailand

Before I relocated to Thailand five years ago, I had a certain impression of what “upper middle class” looked like, based on my familiar Australian norms. I was under the impression that a three-bedroom house, two cars, and a comfortable savings account were the key indicators.

Bangkok, the city I eventually called home, was a different ball game. Here, English wasn’t a common language and the dollar had a different value. My expectation of a comfortable life was about to be redefined.

Navigating through the bustling streets of Bangkok, I was met with a stark contrast — towering skyscrapers and luxury malls on one side, and quaint food stalls and bustling markets on the other. The city was diverse in its economic landscape, challenging my preconceived notions of what classified as wealthy.

In my initial days, I interacted with local entrepreneurs who were leveraging technology to thrive in this evolving economy.

They spoke about investing in real estate in prime locations and sending their children to international schools — all while running successful digital businesses from their smartphones.

It seemed that having a traditional office or physical storefront wasn’t necessarily the definition of success here.

As I got more involved with these local business owners and learned more about their lifestyle, I realized that my idea of “upper middle class” wasn’t quite parallel here in Thailand. The metrics were completely different.

In this article, I aim to delve deeper into these metrics — what it really means to be considered “upper middle class” in Thailand. A concept that challenged my perceptions and taught me to redefine wealth not just based on possessions, but also on opportunities and lifestyle choices.

Decoding the Thai upper middle class

In my early days in Bangkok, I was surrounded by successful entrepreneurs who were redefining the traditional norms of “upper middle class“. They were not just earning well, but were also savvy investors.

Many of them owned multiple properties in prime locations and had diverse investment portfolios.

Their lifestyle was a stark contrast from what I had known back home. They didn’t necessarily live in large suburban homes or drive luxury cars. Instead, they had access to top-notch international education for their children, they traveled frequently, and they were deeply integrated into the local community.

The more I interacted with them, the more I realized that my understanding of “upper middle class” needed recalibration. The annual income that was considered comfortable back home was far from what was needed here. The cost of living, especially for those wanting a certain lifestyle, was higher than I anticipated.

After much observation and countless conversations, I concluded that to be considered “upper middle class” in Thailand, you’d need to earn significantly more than what you’d expect back home.

In the next part of this story, I will discuss a common belief about wealth that I initially held but later found to be misleading.

This belief is not unique to me but is shared by many who are new to Thailand’s economic landscape. It’s this very belief that challenged my perspective and led me to uncover the true metrics of being “upper middle class” in Thailand.

The misconception about wealth in Thailand

I arrived in Thailand with an oversimplified understanding that life here was cheap, and that one could enjoy a luxurious lifestyle with a relatively modest income. This belief, I soon realized, was a common misconception among many foreigners moving to Bangkok.

However, living in the city and interacting with the local entrepreneurs painted a different picture. Yes, certain things were cheaper compared to back home, like street food and public transportation.

But if you desired a lifestyle that included an apartment in a prime location, international schooling for your children, and regular travel; the costs added up quickly.

The cost of living in Bangkok can be surprisingly high for those desiring a certain standard of living. A fact that challenged the commonly held belief that Thailand was an inexpensive place to live an upper middle class lifestyle.

Adapting to Thai economic landscape

Armed with this new understanding, I knew I had to adapt my approach if I was to maintain the lifestyle I desired in Bangkok.

Firstly, I made a conscious effort to integrate more into the local community. This not only enriched my experience but also helped me understand the nuances of the Thai economy better.

Secondly, I started exploring investment opportunities, taking cues from my local entrepreneur friends. Diversifying my income became crucial and property investment seemed like an attractive option given the thriving real estate market.

Lastly, learning Thai was essential. It helped me negotiate better deals in business transactions and communicate effectively with locals.

In retrospect, these steps not only allowed me to thrive in Thailand’s unique economic landscape but also shaped my understanding of what it truly means to be considered “upper middle class” in this fascinating country.

If you, like me, find yourself grappling with similar challenges in Thailand, these steps could be a good starting point for you too.

Taking a step back

As I navigated through the challenges of understanding and adapting to a different economic landscape, I learned some crucial lessons. These lessons were not just about financial literacy, but more about life itself.

Firstly, taking responsibility for my situation was empowering. Although the cultural and economic differences I faced were not my fault, owning my circumstances gave me the power to change them. This mindset shift was instrumental in helping me move forward.

Secondly, learning to think independently was vital. For too long, I had let societal expectations dictate my understanding of wealth. Once I started questioning these norms, I was able to redefine my idea of success and live life on my terms.

Here are the key steps that guided me on this journey:

• Taking responsibility for my situation and empowering myself to make changes.
• Questioning societal norms and expectations about wealth.
• Investing time in understanding the local economy and culture.
• Diversifying my income sources.

This journey of self-exploration and adaptation wasn’t easy. It required acknowledging my struggles, facing the reality of my situation, and breaking free from societal expectations.

But it was worth it because it led me to a place of self-empowerment, where I could shape my reality based on my true desires, not externally imposed ones.